South Korea's government on Thursday promised to boost exports and attract tourists as the country's statistics agency released January data that showed gloomy prospects for the economy.
Finance Minister Choo Kyung-ho said at a meeting of officials the likelihood of a quick export recovery was limited but that government ministries would do their best to avert a decline in shipments to other markets.
He also said the government would work to attract more foreign tourists, with arrivals so far this year at about 40% of pre-COVID levels. Reflecting the sense of urgency within the government, South Korea's trade minister convened a separate emergency meeting of officials from almost all ministries to press for more exports.
A statement quoted Minister of Trade, Industry and Energy Lee Chang-yang as urging participants to "find realistic ways and put every ounce of energy" to increase exports.
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